Contributed by Credit Bureau Singapore
Singaporeans are becoming increasingly technologically savvy, and this trend will continue as Singapore gradually transitions to a Smart Nation. Many of us can complete a wide range of tasks daily on a smart device, be it purchasing a movie ticket or transferring money to a friend. While many of these processes are now seamless and safer than in the past, the risk of identity fraud still remains, hence extra effort should be made to protect your identity on the internet.
Using secured devices
One of the most important ways to protect yourself from identity fraud is to exclusively use trusted and protected devices on websites or applications that handle your personal information or online transactions. Such websites include: social media, online marketplaces, government agency websites etc. To keep your devices secured, do not open suspicious websites, emails or downloads. It is also advisable to run scheduled virus protection scans regularly. By using trusted and protected devices, you can be sure that your device will not be compromised or be vulnerable to security phishing.
In addition to using trusted and protected devices, security measures can be beefed up by using secured log-in. Passphrases, instead of passwords, should be long, complex and unique. By using a combination of lower-case letters, upper-case letters, special characters and numbers, you can generate a complex and secured passphrase. Avoid using the same passphrases on multiple websites or applications because doing so will increase your vulnerability.
You should also enable the Two-Factor Authentication (2FA) whenever possible. 2FA is a layer of security in addition to your username and passphrase. Common 2FA methods today include an SMS verification code or a biometric verification. It is an excellent way of preventing hackers from accessing your personal data. By using secured log-in, you can greatly reduce your risk of identity fraud.
Avoid sharing information carelessly
With the enormous amount of advertisements, promotional giveaways and online campaigns today, it can be easy to give your personal information to others unknowingly. Be very careful when signing up with foreign platforms. You should be aware of their data protection policies and be discerning with the data you divulge. Such caution should also be applied outside of the digital world. As personal information is used as a layer of verification for banks and financial institutions, it is best to not share carelessly.
My Credit Monitoring
In spite of the many steps you can take to protect your identity in an online world, data breaches will still be inevitable. If someone does apply for a loan under your identity, you will want to be notified immediately. With Credit Bureau Singapore’s My Credit Monitor (MCM), you will have a third-eye to monitor your credit report, look out for predetermined activities and notify you through SMS or email, thus providing the earliest possible indication if your identity is being stolen. With MCM, you can put your mind at ease.
MCM is an important step in fighting against identity theft by detecting any suspicious activities or changes that can affect your credit reputation. Sign up now to enjoy a 3-month subscription plus 2 free credit reports for just S$10! Limited time period only.
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